WINNIPEG, MB, February 15, 2017 – Ag Growth International Inc. (TSX: AFN) ("AGI" or the "Company") is pleased to announce that it has closed its previously announced public offering of 1,150,000 common shares (the "Common Shares") at a price of $55.10 per Common Share, which includes 50,000 Common Shares issued pursuant to the over-allotment option, for gross proceeds of approximately $63.4 million. A syndicate led by CIBC Capital Markets, National Bank Financial Inc. and TD Securities Inc. and including Scotia Capital Inc., RBC Dominion Securities Inc., AltaCorp Capital Inc., Cormark Securities Inc. and Laurentian Bank Securities Inc. (collectively, the "Underwriters") acted as underwriters for the offering.
The net proceeds of the offering will be used to repay outstanding indebtedness, to pursue potential acquisition opportunities and for working capital and general corporate purposes.
The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereof. This news release shall not constitute an offer to sell, or the solicitation of any offer to buy, nor shall there be any sale of Common Shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.